Slide 1: Uranium Development & Exploration: The Athabasca Basin
Uranium Development & Exploration The Athabasca Basin Uranium Corporate Presentation for Investors – PDAC 2018
Slide 2: Cautionary Statements & References
Cautionary Statements & References Cautionary Statements: This presentation includes forward-looking information or forward-looking statements under Canadian and U.S. securities laws that involve risks, uncertainties and other factors that could cause actual results to differ materially from those e
Slide 3: Potential to be Top 5 Producing Asset
Potential to be Top 5 Producing Asset Top Producing Uranium Mines 2017 est. Million Pounds U3O8 vs. Wheeler PEA Production Plan(1)(2) M lbs. M lbs. Source: UxC Uranium Market Outlook Q4’17 20 18.0 18.0 15 M lbs. 9.6 M lbs. 10 7.3 M lbs. M lbs. M lbs. M lbs. M lbs. M lbs. 6.6 6.3 5.8 5.5 5.5 5.0 5 -
Slide 4: Project Development Scorecard
Project Development Scorecard Wheeler River is poised to be the next uranium development project in the Athabasca Basin region Project Development Criteria Wheeler River Ranking(1) Denison owns 22.5% of Ownership of licenced mill with excess capacity McClean Lake Mill 1st Provincial power line and P
Slide 5: M&I Resources Available for Pre-Feasibility Studies
M&I Resources Available for Pre-Feasibility Studies 180 Wheeler River is the largest undeveloped M&I RESOURCES (M LBS U3O8) 160 uranium project in the infrastructure rich 140 eastern Athabasca Basin 120 100 80 60 40 20 0 Arrow (West) 2,3 Wheeler River Triple R (East) Millennium (West) (East) Shea Cr
Slide 6: Project PEA: 2 Phase Development Plan
Project PEA: 2 Phase Development Plan 2016 PEA(1): • Does not include increase to Gryphon resource estimate announced 2018 PHASE 1: Gryphon • Conventional underground mining • USD$14.28/lb U3O8 est. OPEX • 6M lbs U3O8 / year (1) • 7 years PHASE 2: Phoenix • U/G freezing + Jet Bore mining • USD$22.15
Slide 7: Project PEA Assumes Processing at 22.5% Owned McClean Lake Mill
Project PEA Assumes Processing at 22.5% Owned McClean Lake Mill(1) McClean Lake Mill Licensed Capacity Processes ~11% of Global ` Uranium Production • 24M lbs/yr U3O8 • 18M lbs/yr reserved for Cigar Lake • 6M lbs/yr expected excess capacity Positive Processing Metallurgical Test • +97% recovery Gran
Slide 8: Denison's Uniquely Diversified Asset Base
Denison’s Uniquely Diversified Asset Base • Denison’s Flagship property in • Strategic high-grade AB uranium mill eastern Athabasca Basin (AB) • 6 M lbs/year excess • Gryphon + Phoenix milling capacity co-development • Currently tolling • PEA completed 1H16 Wheeler McClean Cigar Lake ore with 20.4%
Slide 9: Summer 2017 Discovery Hole: 9.1% U3O8 over 3.7 metres
Summer 2017 Discovery Hole: 1.2% U3O8 over 1.0 metre 9.1% U3O8 over 3.7 metres, including 16.8% U3O8 over 2.0 metres 1km See Press Releases dated August 1st, 2017, August 22nd, 2017, Sept. 19, 2017, and Oct. 11, 2017 for additional details. 8
Slide 10: This is Elephant country
"This is Elephant country - a large property that has seen very little drilling on a geological trend with a precedent for large and high-grade uranium deposits. “ Dale Verran, VP Exploration 9
Slide 11: Company Specific Catalysts on The Horizon
Company Specific Catalysts on The Horizon Wheeler River New high-grade Inaugural drilling Wheeler River Pre-Feasibility “Huskie” discovery at program at Drilling Program Study Waterbury Hook-Carter Winter & Q1 to Q3 2018 Mid-2018 Winter 2018 Summer 2018 Commencement of The PFS is expected to build H
Slide 12: Uranium Development & Exploration: The Athabasca Basin
Uranium Development & Exploration The Athabasca Basin Email: @DenisonMinesCo info@denisonmines.com denisonmines.com